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Standard Deviation - 2 Video Lecture | Statistics for Economics - Class XI - Commerce
FAQs on Standard Deviation - 2 Video Lecture - Statistics for Economics - Class XI - Commerce
| 1. What is the formula for calculating standard deviation? |  |
Ans. The formula for calculating standard deviation is the square root of the sum of the squared differences between each data point and the mean, divided by the number of data points. Mathematically, it is represented as σ = √[ Σ(x - μ)² / N ], where σ is the standard deviation, x is each data point, μ is the mean, and N is the number of data points.
| 2. How is standard deviation used in statistics? | |
Ans. Standard deviation is a widely used measure of variability or dispersion in statistics. It provides a quantitative measure of how spread out the data is around the mean. It helps in understanding the distribution of data and identifying outliers. Additionally, it is used in various statistical calculations, such as determining confidence intervals, conducting hypothesis testing, and assessing the significance of results.
| 3. What does a high standard deviation indicate? | |
Ans. A high standard deviation indicates that the data points are spread out or dispersed widely from the mean. It suggests that the observations in the dataset have a large degree of variability or differences from the average value. In other words, a high standard deviation signifies that the data points are more scattered and less concentrated around the mean.
| 4. How does standard deviation differ from variance? | |
Ans. Standard deviation and variance are both measures of dispersion in a dataset, but they differ in terms of the measurement unit. Standard deviation is the square root of variance. While variance measures the average squared differences from the mean, standard deviation provides a more interpretable measure by representing the dispersion in the original units of the data. Standard deviation is commonly used as it provides a more intuitive understanding of the spread of data.
| 5. Can standard deviation be negative? | |
Ans. No, standard deviation cannot be negative. Standard deviation is always a non-negative value because it represents the square root of the sum of squared differences. It measures the dispersion of data around the mean, so it cannot be negative. If the standard deviation is zero, it indicates that all the data points in the dataset are identical and there is no variability.
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Video Description: Standard Deviation - 2 for Commerce 2025 is part of Statistics for Economics - Class XI preparation.
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